Why Affiliate Marketing In Very Important
Affiliate marketing is an advertisement model in Nigeria which a third party is paid for generating traffic or leads to a company’s goods and services. An Affiliate marketer is one who receives a commission for directing people’s attention to a particular company’s goods or services and the person deals with the said company. Affiliate marketer is like a middle man between the company and dealer.
Affiliate marketing is a type of performance based market in which a business rewards one or more affiliates for each visitor or customer brought by the affiliate’s own marketing efforts. The industry has four core players: The merchant ( as retailer or brand), The network (That contains offers for the affiliate to choose from and also takes care of the payment), the publisher (also known as the affiliate), and the customer. The market has grown in complexity, resulting in the emergence of a secondary tier of players, including affiliate management agencies, super affiliate and specialized third party vendors.
Affiliate marketing overlaps with other internet marketing methods to some degree because, affiliates often use regular advertising methods. Those methods include organic search engine optimization (CEO), paid search engine marketing (Pay Per Click), email marketing, content marketing and in some sense display advertising. On the other hand, affiliates sometimes, use less orthodox techniques such as publishing reviews of products services offered by a partner.
It is stated that, affiliate marketing is commonly confused with referral marketing, as both forms of marketing and the main different between them is that affiliate marketing relies purely on financial motivations to drive sales while referral marketing relies on trust on trust and personal relationship to drive sales.
- It creates Partners.
Affiliate marketing produces partners who put up a mutual relationship. The affiliate benefits and the merchant also benefits through getting hosting fees through income earned and they also earn a substantial amount of money from the merchants they work with. The Affiliate marketing also has an incentive of being credited with a lead or sale when he effectively delivers traffic to the merchant’s website. The merchants too benefit from the arrangement. They get traffic to their website that they ordinarily would not have by advertising on affiliate websites. To make it even more interesting, the dollars for advertising are only spent when they successfully get sales through Affiliate marketing.
- It Streamlines Advertisement
Affiliate marketing provides merchant with actual website to advertise. It provides the right niche. If a merchant is into animal production, it is best to advertise on affiliate websites that deals on issues about animal production. A merchant that is into poultry farming will advertise on a site that deals with poultry; its feed, medication and general knowledge about poultry farming. It will not be good to partner with a website that deals with crops that is not the area of your specialization. Much benefits abounds there because, it provides dealers who visit that particular website. A rice merchant has no business with a website that deals with poultry vice versa.
- Your Advertising Budget is used very well.
Money paid for advertisement to a affiliate cannot be spent until a sale is made. The implication is that, with affiliate marketing, you are sure of getting returns on investment. It is different from other forms of advertisement investment. Waste of money does not occur and you are certain of return on investment. This is great and for the interest of everybody. You advertise and you only pay when there is a sale and by implication, you are only investing when the returns for investment have already been assured.
- Easy to track
One of the most important benefits of Affiliate marketing is that, it is very easy to track. Things like click through rates or views of your website as a result of customer having viewed an affiliate website are allowed by affiliate program. This helps you understand which affiliates work and which ones do not work. It allows you to know how you are fairing on different affiliate websites with different marketing tools.
- It brings Exposure
A benefit of Affiliate marketing is the exposure it brings and exposure is very fundamental to marketing strategy. Your products or service is made known to the whole world. When you stay on the appropriate website, you stay in tuned with the correct and targeted demographics. It also helps you create an image and build a brand name. These helps you leave lasting impression on prospective customers. This will definitely leads to more sales.
Affiliate marketing is very good business for businesses. You need to try it today and move your business to a higher height.